投资界（PEdaily.cn）旗下，专注募资动态 欢迎加入投资界读者群 吸引人才。 作者 I 吴琼 报道 I 投资界-解码LP 近日，香港高才创业投资基金成立典礼暨科技金融论坛在香港举行。投资界-解码LP获 悉，现场香港高才创业投资基金正式启动，基金首期规模10亿港元，聚焦科技、医疗、 消费等前沿领域。 据悉，该基金自筹备以来，获得社会各界积极响应，目前首批3亿港元已确认。新基金目 标明确——扶持创新人才与优秀项目，"让更多的高才精英能在香港找到实现梦想的舞 台。" 以下文章来源于解码LP ，作者吴琼 解码LP . 对于基金的未来发展，陈茂波提出两点期望：一是愿基金充分发挥风险投资的功能，坚 持"投早、投小、投长期、投硬科技"的原则，更好地支持香港初创企业的发展；二是发 挥基金的专业网络，为香港汇聚全球顶尖的科创人才和初创企业。 成立新基金，抢人目标明确。其实早在2 0 22年，为吸引世界各地具有丰富工作经验及高 学历的人才到香港，香港特区政府就推出了"高端人才通行证计划" (简称"高才通" )。截 至2 0 25年2月底，已批出近9 .9万宗申请。 如今，高才通人才服务协会牵头设立新基金算是配套措施之一。尚 ...

在全球经济进入深度变局之际，2025夏季达沃斯论坛以"新时代企业家精神"为主题，为世界经济把脉问 诊。 从工业革命到数字时代，企业家精神始终是推动经济转型的核心引擎之一，而在充满不确定性的今天， 这一精神又被赋予了新的时代内涵。 在主题为"中国创业生态前瞻洞察"分论坛上，来自云计算、自动驾驶、AI领域的中国青年企业家们，用 生动的实践诠释了新时代企业家精神的"破圈"与"破局"之道。 "破圈"首先体现在产业融合的深度实践层面。在2025夏季达沃斯论坛现场，AI、生物科技、新能源、信 息技术等前沿领域的讨论热度居高不下。越来越多的企业家意识到，单一产业的发展空间正逐渐趋 于"天花板"，跨行业整合资源、共享技术成果，是挖掘新增长点的重要途径。 主动打破藩篱，在技术交叉处发现新蓝海，元戎启行CEO周光分享的自动驾驶商业化路径，正是这种跨 界思维的例证之一。 新时代企业家精神的"破圈"还体现在国际合作方面。在经济全球化遇阻的背景下，仍有众多企业家积极 寻求跨国界的合作机会，将产品与服务推向全球市场。他们不仅输出优质的商品，更将中国企业的创新 理念、管理模式传播到世界。 就像TCL创始人李东生所言，面对全球化的新形势，跨 ...

脑再生科技周三跌逾6%，报21.43美元，总市值缩水至107亿美元。据悉，脑再生科技是一家专注于中 医治疗神经认知障碍和退行性变，特别是多动症和ASD的研发和商业化的早期生物科技公司。5月9日， 脑再生科技宣布，公司新一代神经调控芯片通过FDA临床试验审批，公司将与顶尖医疗机构梅奥诊所合 作研究帕金森病治疗。(智通财经) ...

Core Viewpoint - Changcheng Fund has lowered the valuation of Nohow Health to HKD 1.20 per share, representing a 91.51% decrease from the price before suspension [1] Group 1: Valuation Adjustments - This is the second time Changcheng Fund has adjusted its valuation for Nohow Health, following a previous adjustment to HKD 7.48 per share in July of last year [1] - Multiple fund companies have adjusted their valuations for Nohow Health since mid-last year, indicating a pessimistic outlook on its resumption prospects [1] Group 2: Industry Context - Nohow Health, once known as the "first stock for cancer early screening," has seen its valuation approach zero recently, highlighting potential compliance risks hidden beneath the high growth narrative of biotech companies [1]

Core Viewpoint - Hong Kong aims to increase the manufacturing sector's contribution to GDP from 1% in 2023 to 5% by 2032 through new industrialization initiatives and funding programs [3] Group 1: New Industrialization Funding Programs - The Hong Kong government has introduced a new industrialization funding program with a budget of HKD 10 billion to promote smart manufacturing and diversify the economy [1] - The new industrialization funding program offers a matching grant of 1:2 for companies investing at least HKD 200 million in establishing smart production facilities in strategic industries [1][2] - The maximum funding for each project under the new industrialization funding program is HKD 15 million or one-third of the total project cost, whichever is lower, with a cap of HKD 45 million for each company [2] Group 2: Recent Projects and Developments - The first project approved under the new industrial acceleration program involves a pharmaceutical company establishing a smart production line for sterile eye drops and oral medications, with a total budget of approximately HKD 600 million and expected funding of about HKD 200 million [2] - The second project involves the establishment of a medical superconducting cyclotron and radiopharmaceutical production line, with a total budget exceeding HKD 400 million and expected funding of around HKD 140 million [2] - The third project, submitted by Jeli Semiconductor (Hong Kong) Co., aims to establish a third-generation semiconductor silicon carbide wafer production facility, with a total budget exceeding HKD 700 million and expected funding of HKD 200 million [2] Group 3: Long-term Goals and Challenges - The short-term goals of the new industrialization plan include the production of various smart production lines, the transformation of research results, and the establishment of a talent pool [3] - The mid-term goals focus on developing emerging industries such as new energy and life sciences, contributing to the manufacturing sector's GDP [3] - Long-term goals aim for basic achievement of new industrialization by 2035, aligning industries with smart, high-end, and green standards, despite challenges such as limited land resources and high labor costs [3]

金融界6月25日消息，上证指数低开高走，中证沪深港生物科技主题指数 (沪深港生物科技主题， 932245)报1352.64点。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。当特殊情况下将对指数进行临时调整。当样本退市时，将其从指数 样本中剔除。样本公司发生收购、合并、分拆等情形的处理，参照计算与维护细则处理。当沪股通、深 股通和港股通证券范围发生变动导致样本不再满足互联互通资格时，指数将相应调整。 本文源自：金融界 作者：行情君 从指数持仓来看，中证沪深港生物科技主题指数十大权重分别为：恒瑞医药（12.02%）、百济神州 （10.82%）、药明康德（8.63%）、迈瑞医疗（7.04%）、信达生物（6.24%）、药明生物（4.88%）、 康方生物（3.31%）、石药集团（3.04%）、中国生物制药（2.78%）、三生制药（2.05%）。 从中证沪深港生物科技主题指数持仓的市场板块来看，香港证券交易所占比45.80%、上海证券交易所 占比33 ...

Core Viewpoint - The introduction of a professional institutional investor system aims to enhance the identification and evaluation of high-quality technology enterprises in China's Sci-Tech Innovation Board, addressing the challenges of assessing the innovation attributes and commercial prospects of tech companies [1][2]. Group 1: Introduction of Professional Institutional Investors - The China Securities Regulatory Commission (CSRC) has proposed a pilot program to introduce professional institutional investors for companies meeting the fifth set of listing standards on the Sci-Tech Innovation Board [2][4]. - This initiative is designed to provide a new pathway for investors to discover the investment value of enterprises while improving the market mechanism for identifying quality tech firms [2][4]. Group 2: Characteristics of Tech Enterprises - Early-stage, unprofitable tech companies often face high R&D costs, long application cycles, and significant commercialization risks, leading to uncertainty in their ongoing operations and profitability [2][3]. - Successful identification of these companies can lead to exponential growth, making the assessment of investment risks and values challenging [2][3]. Group 3: Advantages of Professional Institutional Investors - Professional institutional investors possess specialized judgment capabilities regarding the innovation attributes and future development potential of tech companies, particularly those with core technologies [3][5]. - The backing of professional investors can reduce risks and provide market validation for a company's technological strength and commercial prospects [5]. Group 4: Market Practices and Statistics - The Hong Kong Stock Exchange has successfully implemented a similar system since 2018, with significant growth in revenue and net profit for companies listed under specific rules [4]. - As of the end of 2024, 67 companies were listed under the relevant rules, with an average of 3 professional investors per company, holding an average of 21% of shares collectively [4]. Group 5: Industry Implications - The introduction of this system may reshape the competitive landscape of the VC/PE industry, favoring capital-rich and technically adept leading institutions [6]. - There is a need for clear standards and regulatory oversight regarding the identification and behavior of professional institutional investors to ensure effective implementation [6].

Core Viewpoint - The announcement of a ceasefire between Israel and Iran may serve as a significant turning point, leading to a reduction in global market risk aversion and a subsequent rise in asset prices, particularly in global stock markets while oil and gold prices decline [1][2]. Direct Impact - The geopolitical risk premium in oil prices has been eliminated, resulting in a decrease in international oil prices due to reduced fears of supply disruptions from escalating conflicts in the Middle East [2]. - As risk aversion diminishes, funds are flowing back from safe-haven assets like gold into higher-growth risk assets such as global equities, indicating a lower level of market uncertainty [2]. Transmission Effects - The easing of tensions in the Middle East may trigger a transmission chain in the global macroeconomic landscape [3]. - The transmission chain can be summarized as follows: 1. Easing Middle East tensions → Oil price decline [4] 2. Oil price decline → Reduced inflationary pressures in the U.S., as oil prices significantly influence U.S. inflation metrics [5]. 3. Reduced inflation → Increased likelihood of interest rate cuts by the Federal Reserve, as persistent inflation has been a barrier to rate cuts [6]. 4. Enhanced rate cut expectations → Improved global liquidity, particularly benefiting emerging markets, with Hong Kong stocks potentially attracting more international capital due to their low valuation [6]. Market Opportunities - In light of improved liquidity and rising risk appetite, Hong Kong stocks are expected to enter a significant "allocation window" [6]. - The technology sector in Hong Kong, which includes leading companies in internet, consumer electronics, and biotechnology, is likely to benefit from the anticipated global liquidity improvement and represents higher growth potential [6][8]. - The CSI Hong Kong Stock Connect Technology Index has shown strong growth, with a total return of 227% since the end of 2014, indicating its potential as a tool for capturing structural opportunities in the Hong Kong technology sector [8].

● 本报记者魏昭宇 随着2025年上半年接近尾声，瑞士百达、高盛、路博迈基金、摩根士丹利等多家外资资管机构相继发 声，看好中国市场结构性机遇。其中，人工智能、生物科技、消费等板块成为外资机构热议的话题。 有外资人士称，中国政府的政策立场明确且得当，有助于形成稳定、可预期的政策环境，降低股市风险 溢价。同时，支持资本市场、鼓励分红回购、推动中长期资金入市的政策，对降低股市无风险利率至关 重要。 中国资产表现可圈可点 展望全球市场，瑞士百达在2025年下半年全球宏观经济与金融市场展望中表示，全球经济格局正发生结 构性变化：中国科技创新力量崛起；美国政策不确定性削弱市场信心；欧洲市场或因相对宽松的融资环 境和货币政策而获得新的发展机遇。在此背景下，投资者面临风险资产波动加剧的挑战，分散化投资策 略重要性日益凸显。 路博迈基金表示，2025年即将过去二分之一，中国资产的表现可圈可点。"中国制造业在2025年展现出 其难以替代的优势。从DeepSeek等高科技企业到机器人技术的突破，这些领域不仅体现了中国制造业 的技术实力，也彰显出其在全球供应链中的关键地位。此外，中国出口的韧性也表明，中国制造业在全 球市场上具有强大 ...

Group 1: Company Developments - Bolekan Vision Cloud-B has launched its IPO on the Hong Kong Stock Exchange, with approximately 60.58 million shares available for global sale at a price of HKD 10.10 per share, indicating the company's confidence in its value [1] - Stand Robot has submitted its listing application to the Hong Kong Stock Exchange, focusing on industrial intelligent mobile robot solutions, despite currently being in a loss-making position [2] - Chengtai Technology has filed its prospectus with the Hong Kong Stock Exchange, specializing in millimeter-wave radar products, with projected revenues increasing from 0.58 billion to 3.48 billion from 2022 to 2024 [4] Group 2: Financial Performance - China Wangwang reported revenues of approximately 23.51 billion for the fiscal year ending March 31, 2025, a slight decrease of 0.3% year-on-year, while profit attributable to equity holders increased by 8.6% to 4.34 billion [3]